ABOUT US
SUSTAINABILITY
GULF’s Sustainability Framework builds on the concept of balancing business success and corporate responsibility, illustrating our commitments in all three major dimensions of sustainable development (economic, environmental and social) and corporate sustainability (ESG: environmental, social, governance). These commitments, undertaken within the principles of good corporate governance, are informed by strong stakeholder engagement and supported by a future-oriented IT system. The Framework’s central theme, “GULF HELPS the WORLD”, serves as both a reminder of our vision to enhance people’s quality of life and a representation of our key business areas and material issues in the major dimensions of sustainability.
Sustainable energy refers to energy that is produced and used in ways that support long-term human well-being and ecological balance. It encompasses two main principles:
Sustainable energy refers to energy that is produced and used in ways that support long-term human well-being and ecological balance. It encompasses two main principles:
Source sustainability
The energy sources themselves should either be inexhaustible over human-relevant time scales or naturally replenished. This includes renewable energy sources like solar, wind, hydro, geothermal, and biomass.
Usage sustainability
The manner in which we use that energy also needs to be environmentally and economically sustainable. This involves aspects like efficiency and conservation, as well as ensuring that the infrastructure and technologies used do not create significant environmental or social burdens.
Sustainable Energy refers to energy that is produced and used in ways that support
long-term
human well-being and ecological balance. On the other hand, Renewable Energy
specifically
refers to energy derived from natural resources. Typical examples are solar panels, wind
turbines, and hydropower dams.
In summary, all renewable energy forms aim to be sustainable, the concept of
sustainability
is broader and encompasses a wider range of considerations. Renewable energy is about
the
source, while sustainable energy addresses both the source and the broader systems in
which
it is produced, distributed, and consumed.
Environmentally, sustainable energy curtails greenhouse gas emissions, combating global
climate change and reducing pollutants detrimental to both human health and ecosystems.
Economically, it offers long-term cost savings, with many renewable resources like sun
and
wind.
GULF is working towards providing energy efficiency solutions and developing energy
resources of the future, including other renewables. We aim to create and develop
high-value
resource opportunities by aligning our business strategies through disciplined
operational
excellence, capital stewardship, and cost efficiency.
Solar and wind energy are often regarded as the most sustainable energy sources due to their minimal environmental footprint, decreasing costs, and scalability. However, the optimal sustainability solution for a region often entails a combination of various energy sources, including hydropower, biomass, and geothermal, tailored to local conditions and requirements.
From an environmental perspective, sustainable energy sources typically emit little greenhouse gas when generating power that mitigates climate change. In contrast, burning fossil fuels releases significant greenhouse gasses, which accelerate global warming, and other pollutants harmful to both health and ecosystems.
Over recent years, technological advancements led to a significant reduction in the costs of solar panels and wind turbines. In many regions, these renewables have become cheaper than coal, natural gas, and other conventional energy sources. Moreover, solar and wind don't rely on fuel. As a result, there are stable costs over time.
